Active Fund Managers Cite AI as Alpha Killer as Passive Strategies Gain Ground
Prominent value investor Guy Spier declares traditional stock-picking "doesn't work any more" as AI tools erode active managers' research edge. Spier warns his probability of outperformance has declined further as automation makes overlooked market opportunities scarce. Passive vehicles now command higher analyst ratings, with Vanguard's S&P 500 Growth ETF carrying 40%+ upside targets.
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